Method and system of conducting a cryptocurrency payment via a mobile device using a contactless token to store and protect a user's secret key

a mobile device and user technology, applied in the field of method and system of authenticating users, can solve the problems of long and difficult to predict passwords, many problems, and long passwords

a mobile device and user technology, applied in the field of method and system of authenticating users, can solve the problems of long and difficult to predict passwords, many problems, and long passwords

US10102510B2Active Publication Date: 2018-10-16HOVERKEY
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  • Method and system of conducting a cryptocurrency payment via a mobile device using a contactless token to store and protect a user's secret key
  • Method and system of conducting a cryptocurrency payment via a mobile device using a contactless token to store and protect a user's secret key
  • Method and system of conducting a cryptocurrency payment via a mobile device using a contactless token to store and protect a user's secret key

Examples

Experimental program
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Effect test

Embodiment Construction

: Digital Signature: function=digital signing function, plain authorization=private signing key; parameter=hash of message; output=digital signature on message hash[0039]Example 2: Key Derivation: function=HMAC-based key derivation function; plain authorization=key derivation master secret; parameters=session random numbers, output length; output=key derived from master secret[0040]Example 3: Re-encryption: function=encryption function; plain authorization=encryption key; parameter=(another) encryption key; output=the plain authorization encrypted with a different key[0041]Example 4: One-Time Passcode (OTP): function=hash-based passcode generation function; plain authorization=OTP secret key; parameter=current counter value; output=passcode computed from counter

[0042]The authorization may comprise a password, PIN or cryptographic key.

[0043]The unlock response may be transmitted to the mobile device under the protection of an encryption key, such as a session key.

[0044]The token may ...

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Abstract

A method and system of conducting a cryptocurrency payment via a mobile device, using a contactless token to store and protect a user's secret key. A cryptocurrency wallet encrypted with the secret key is received by the mobile device from the token. A cryptocurrency payment instruction is received by the mobile device, prompting for a user credential to approve the instruction. In response the mobile device sends to the token a message comprising the encrypted wallet together with the payment instruction and the user credential. Using the secret key, the token then decrypts the cryptocurrency wallet from the encrypted wallet and creates a payment transaction by digitally signing the payment instruction, and transmitting the payment transaction to a cryptocurrency network or exchange. Confirmation of the transaction requires either a PIN, biometric or fingerprint on the mobile device, or authentication via button press, PIN or fingerprint on the token.

Description

BENEFIT CLAIM[0001]This application claims the benefit under 35 U.S.C. § 120 as a Continuation-in-Part of application Ser. No. 14 / 855,186, filed Sep. 5, 2015, which is a Continuation-in-part of application Ser. No. 14 / 174,727, filed Feb. 6, 2014, which is a Continuation of application Ser. No. 14 / 091,183, filed Nov. 26, 2013, now U.S. Pat. No. 9,210,133, which is a Continuation-in-part of application Ser. No. 13 / 706,307, filed Dec. 5, 2012, now U.S. Pat. No. 9,135,425, and which claims the benefit under 35 U.S.C. § 119 of Great Britain application GB 1221433.4, filed Nov. 28, 2012, and Great Britain application GB 1303677.7, filed Mar. 1, 2013 and granted as GB 2496354.1. INTRODUCTION[0002]The present application relates to a method and system of authenticating a user to a computer resource accessed via a mobile device using a portable security token (for example a contactless smart card or bracelet), together with a secret that the user can easily remember (for example a PIN code)....

Claims

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Application Information

Patent Timeline
16 Oct 2018
Publication
US10102510B2
IPC
H04L9/32; H04W12/06; G06Q20/40; H04W4/80; G06Q20/32; G06Q20/36; G06Q20/38; G06F21/44; G06F21/34; H04L29/06; G06Q20/06; H04L9/06
CPC
G06Q20/065; G06F21/445; G06Q20/3278; G06Q20/3678; G06Q20/3821; G06Q20/3829; G06Q20/38215; G06Q20/4097
Inventors
YAU, ARNOLD; IVES, STEVE